Morning Heating Oil Market Report

October heating oil traded lower during the initial morning hours, pressured by a weak economic growth concerns and reduced demand prospects. Some traders suggested that the heating oil market may have drafted a level of early support from modest gains in Brent crude oil, after reports surfaced indicating delayed shipments of North Sea Forties. The Commitments of Traders Futures and Options report as of August 30th showed non-commercial traders were net long 21,377 contracts, an increase of 8,186. Non-commercial and nonreportable traders combined held a net long position of 35,524 contracts, an increase of 14,818 in their net long position.

Following ongoing concerns of hackers interfering with the 2016 Presidential election, President Barack Obama has called for a complete report into hacking efforts that took place during the election cycle.